Rules - December 10, 2016

Freddie Mac – Solar Panels; Trended Credit; Living Trusts; DIT Ratios – Bulletin 2016-20 – Dated November 09, 2016

Rule Synopsis: Freddie has issued an update to lenders about how to handle the payments for solar panels, as more people add them to their homes. Freddie Mac issued bulletin 2016-20 to address changes to: Properties with solar panels Trended credit data Living Trust Borrowers, and Monthly debt to income ratio Effective dates are March [...]

2018-10-27T22:23:13-05:00November 3rd, 2017|

Fannie Collateral Underwriter 4.0 Release Notes Updated November 29, 2016

Rule Synopsis: The information directly below addresses the changes to the release notes for CU Version 4.0 that have been announced in the updated release notes dated November 29, 2016. Remember that CU Version 4.0 will be rolled out over the weekend of December 10, 2016. As of November 29, 2016, Fannie Mae added the [...]

2018-10-27T22:23:52-05:00November 3rd, 2017|

Fannie DO/DU – Updated Release Notes DU Version 10.0 (Effective December 10, 2016)

Rule Synopsis: This article outlines the changes we can expect to see when DU 10.0 is updated over the December 10, 2016 weekend. DU Validation Service Updates to the Property Inspection Waiver Property Value Reps and Warranties HomeReady® Enhancements Updates to Align with Selling Guide Interpretive CommentsDU Validation Service: MortgageCurrentcy™ addressed the “Day 1 Certainty” [...]

2018-10-27T22:24:36-05:00November 3rd, 2017|

CFPB Releases List of Counties for 2017 that Qualify as Rural or Underserved Counties – November 2016

Rule Synopsis: Consumer Financial Protection Bureau updates counties for rural and underserved areas. The CFPB is also issuing the 2017 annual threshold for exempting small loans from special appraisal requirements. Interpretive CommentsIt is that time of year where updated lists are distributed from all of the agencies. This list is to identify which counties qualify [...]

2018-10-27T22:27:39-05:00November 3rd, 2017|